Running an oil and gas business is a huge undertaking and not without potential problems. From overseeing rigs, equipment, and tools to conducting well evaluations and complying with government regulations, it’s important to protect your business if something goes wrong. At Capital Insurance Brokers, we can help lift your worries by providing comprehensive insurance packages tailored to your oil and gas business needs.
What is Oil and Gas Insurance?
In the oil and gas industry, exploration and production means taking strategic risks, and in a volatile market, it’s more important now than ever to mitigate risk at every level of operation.
Oil and gas insurance provides coverage to protect companies from these risks when it comes to trucking, drilling, manufacturing, pipelining, and more. Businesses operating in the oil and gas industry need specialized insurance policies to give peace of mind and protection from unforeseen expenses.
What Does Oil and Gas Insurance Cover?
- General Liability Insurance: This type of policy covers expenses related to injuries or property damage in the workplace.
- Property Insurance: Property insurance protects your business’s physical assets and areas such as an office, equipment yard, shop, or production facility.
- Contractors’ Equipment Insurance: This policy provides coverage for heavy equipment when it comes to physical loss or damage.
- Limited Pollution Liability: Limited pollution liability will cover your business in the event of a spill or other incident that causes damage to the environment. This is not covered by general liability insurance.
- Commercial Vehicle Insurance: Commercial vehicle insurance provides coverage for vehicles used for business purposes such as transporting tools and equipment.
Who Needs Oil and Gas Insurance?
- Service contractors
- Facility constructions (including pipelines)
- Drilling contractors
- Equipment rental firms
- Transportations companies
- Storage facilities
- Employee injuries
- Property damage
- Oil/gas spills and leaks
Get Protected With Capital Insurance Brokers!
The oil and gas industry is full of risks but you shouldn’t have to risk your business! Get the protection you need by contacting Capital Insurance Brokers today.
Our team of experienced insurance professionals will review your business’s unique needs and tailor a comprehensive insurance package at the right price.